What is a Lucky 31 Bet?
A lucky 31 is a bet used in sports betting that involves 31 different bets for 1 combined stake across five selections. It covers the different combinations of bets by splitting the wager equally across 5x singles, 10x two pick parlays, 10x three pick parlays, 5x four pick parlays and 1x five pick parlays.
Why Use a Lucky 31 Bet Calculator?
Due to the nature of a Lucky 31, it can be tricky to accurately and efficiently work out your bet returns therefore a Lucky 31 calculator can be used to accurately simply the process. Simply input the odds of each selection, the outcome of each selection and the total wager and the lucky 31 calculator will show you your payout. You can tweak the odds for better bet planning and compare to different bet types.
How Our Lucky 31 Bet Calculator Works
The lucky 31 calculator equally splits your wager across the following:
- 5x singles
- 10x two pick parlays
- 10x three pick parlays
- 5x four pick parlays
- 1x five-pick parlay.
It then calculates the total payout by adding these winning bets together
Step 1: Input Your Selections
Simply input the odds taken for each selection and use the drop-down menu to add the outcome of each selection – whether it won, lost or was a void selection.
Step 2: Enter Wager Information
Next, enter a total wager in the wager box
Step 3: Understand the Results
You can see the total payout of the bet below.
You can now alter your selections to plan accordingly, alternatively, you can use the other calculators for different possible bet types such as the parlay calculator to check the return for the 5 selections in a parlay rather than a lucky 31.
Though bearing in mind a parlay requires all selections to win for a return vs a lucky 31 that only needs 1 winner out of the 5, furthermore a parlay will return more for the same stake as it isn’t divided across the different bet types but carries more risk.
You can ultimately use the Lucky 31 calculator to asses the different risk/reward scenarios and choose the bet type you want before placing.
Practical Example of a Lucky 31 Bet Calculation
Let’s walk through a practical example to illustrate how a Lucky 31 bet works and how our calculator can help you understand the potential returns. Assume we’re dealing with horse racing, a popular sport for this type of bet.
1. Selecting Your Bets
To begin, we need to select five different horses from five different races. Here are our selections for this example:
- Horse A at odds of 2/1 (fractional odds)
- Horse B at odds of 4/1
- Horse C at odds of 6/1
- Horse D at odds of 1/1 (also known as “evens”)
- Horse E at odds of 3/1
Remember that each of these will be used in a combination of singles, 2 pick parlays, 3 pick parlays, four pick parlays and one five-pick parlay.
2. Inputting Your Stake
Next, we’ll need to decide on a stake. Remember that this stake will be placed on each of the 31 bets within the Lucky 31. For this example, let’s assume a stake of $1 per bet. That means the total stake will be $31. Alternatively, you can select the ‘combined wager’ on the calculator and using the same example you would enter $31, the calculator will then divide this equally across the different bet types involved in a lucky 31 – $1 per bet type.
3. Using the Lucky 31 Bet Calculator
Now, we enter these details into our Lucky 31 bet calculator. We input the odds for each horse and the stake per bet. The calculator automatically determines the potential returns for each of the 31 bets.
4. Interpreting the Results
Suppose all five horses win their races. The calculator will show that your total return is $374. This total return includes the profit and the original stake.
However, the power of a Lucky 31 bet is that you don’t need all of your selections to win to receive a return. Suppose only Horse A and Horse E win their races. In this case, the calculator will show that your total return is $16, so you would make a loss overall, but you still recoup some of your stake.
This practical example demonstrates the potential outcomes of a Lucky 31 bet, depending on the results of the individual selections. It’s important to remember that the potential returns can vary widely based on the odds of the selections and the results of the events.
Benefits of the Lucky 31 Bet
There are many benefits of using a lucky 31, furthermore, you lower the risk involved in the bet as there’s an increased chance you get a return when compared to other bet types such as a 5-pick parlay.
This is due to singles involved in the lucky 31 so you only need 1 winner for a payout, this will not be a large amount due to the stake being split up across the 31 bet types, therefore only a small portion of your stake will be on the singles. It is however better than nothing such as getting 1 winner on a parlay.
Due to the different combinations of multiples a lucky 31 can return more than bet types such as just 5x singles as the winnings have an accumulative effect the more winners you have.
Drawbacks of the Lucky 31 Bet
A drawback of a lucky 31 versus other bet types such as a parlay is that it has limited profit potential.
This is because the bets such as the singles and even doubles are effective hedges, ensuring a return if not all the selections win therefore if you were to place the whole stake just on a parlay it would be much higher as you wouldn’t have some of that stake spent on a lower reward single or double etc.
You could also try our Lucky 15 bet calculator and find out more about this type of bet, in case the Lucky 31 has not convinced you.
Tips for Making a Lucky 31 Bet
Accuracy is very important for a Luckly 31 calculator to give you accurate payout returns and ensure the odds inputted into the calculator are accurate as well as the outcome of each selection and the total wager. If these are all accurate the odds calculator will give you an accurate expected return.
Best Sports to Use Lucky 31 Bets in Canada
You can use a lucky 31 across most sports across main markets such as run lines, spreads or even derivate markets such as goal scorers in soccer.
One tubing to consider is that companies won’t allow you to enter related contingencies within the lucky 31, this also applies to every other bet type containing multiple selections.
Furthermore, a related contingency is when 1 selections outcome directly impacts the outcome of another selection, for example, you couldn’t add the same horse for 2 different races, moreover, if the horse wins the first race it is generally more likely to win the 2nd race, therefore, the first selection directly impacts the likelihood of the second selection, therefore, it couldn’t be added.
This is generally the case unless the company offers it as a special such as Horse X to win both Race X & Race X.
Frequently Asked Questions about Lucky 31 Bet Calculator
You can use the Lucky 31 bet calculator by inputting the odds for each of your five selections and your stake. The calculator will then work out the potential return for each of the 31 bets and the total return.
Yes, the Lucky 31 is popular in Canada, particularly for sports like horse racing and ice hockey. However, it can be used for any sport where you can make multiple selections.
The odds entered into the calculator should be the odds at the time the bet is placed. If the odds change after this point, it will not affect your bet or the potential returns.
The cost of a Lucky 31 bet is your stake multiplied by 31 (the number of separate bets). So if you decide to stake $1 per bet, the total cost of the Lucky 31 bet would be $31.